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Matchtech Group plc - AGM Trading Update

Matchtech Group plc - AGM Trading Update

George Materna, Chairman of Matchtech, will deliver the following Trading Update at the Group's Annual General Meeting at noon today:

"Since we reported our Preliminary Results for the year ended 31 July 2012 on 4 October 2012 the Group has continued to perform in line with the Board's expectations, with Net Fee Income (NFI) for the quarter (Q1) to 31 October 2012 of &pound9.5 million, at similar levels to the last quarter (Q4) and up 10% compared with the same period in the previous financial year.

Contract NFI was &pound6.7m, up 16% on the same period last financial year, with contractors on assignment at 31 October 2012 up 2% on 31 July 2012. Permanent fees in Q1 were &pound2.8m, at similar levels to the same period last financial year and the last quarter.

Skill shortages are driving unprecedented demand for contract staff in our markets and our diversification strategy is broadening our client base and allowing us to take market share.

With our high quality staff and robust business model, we are positioned well for continued growth by supplying global clients working on large, multi-year infrastructure projects in the UK and overseas.

We look forward with confidence to the year ahead.”

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